Transcripts For BBCNEWS World Business Report 20170510 : com

Transcripts For BBCNEWS World Business Report 20170510



a bumpy road for toyota? the world's second largest carmaker is expected to to report shrinking profits as the us market slows down. on the farm in the us — we assess the impact of president trump's policies in an industry that relies on migrant workers, even the undocumented ones. welcome to world business report. i'm sally bundock. in a minute we'll itroduce you to the first american $800 billion company. we start with the world's second biggest carmaker — toyota — it will report its latest set of financial results in just a few hours. the japanese car giant is expected reveal its had a tough quarter with operating profits falling by 30%. the key reason being a slowdown in the united states taking its toll on the business this year. this follows a record year there last year when carmakers sold 17.6 million vehicles in the us. but it would seem, at least for now, the winning run is coming to an end in toyota's biggest market. compared to the same period last year, the company has experienced a drop in sales in every month of 2017. as consumers look towards more environmentally friendly models, toyota has been ramping up its investment in greener technology. by the end of the decade it hopes to sell at least 30 thousand hydrogen powered vehicles per year. with me is anna—marie baisden, head of autos at bmi research. good morning. we have put an outline but can you explain in more detail why it has been so difficult toyota for? there are many reasons. the stronger yen hurt a lot of japanese companies. that is one aspect. but also they have been spending a lot, on rnd and green technology, they lifted a freeze on new plans say they have new investment in those. a new centre at in michigan also open. expenditure as well as falling sales you mentioned. you would assume if you mentioned. you would assume if you have had a record year, sales would tail of the following year because people have done the big car purchases in 2015. absolutely. in the us we were forecasting a decline in sales. it is a mature market, it has had a good few years of sale growth. there was also a growing second—hand market, demand for credit starting to fall as a credit limits tightened. a lot of reasons why you can expect that. they have been expanding implants in the us, is that have anything to do with president trump? he was vocal that injapan president trump? he was vocal that in japan they president trump? he was vocal that injapan they are not exporting lots of us cars were as japan and makes a lot of money on its exports of cars to the us? yes, it will be an interesting relationship with the new administration. we have seen toyota being criticised for opening a new plant in mexico as well. at the detroit motor show they announced $10 billion so they are putting something into the country. us brands do not have the same access to the japanese market but in some cases it is a matter of building some exposure. some european brands and open more dealerships there and it has been working. the green tech hydrogen power, a big investment and a big push from the government as well? the japanese government supporting hydrogen fuel sales technology. i think they are looking to get first mover advantage as well. toyota and honda. they have their eye on china for sales on that? mostly japan at the moment. china is moving towards more traditional hybrids. thank you for your time. when we get the results from toyota we will fill you in and only in how well they did. in the us politicians — not least the president — want to talk about undocumented workers, and border walls, but the real problem the economy has with migrant workers, is that it needs more of them. businesses, particularly in agriculture and tourism, are finding it harder to hire the all important seasonal staff who keep them afloat. they want the visa programs that allow people to come work in the us temporarily to be overhauled pronto. samira hussain reports from chester, new jersey. this farmer does not get to spend as much time in the field as he used to all as he would like. his first first—generation farmer. agriculture was a calling to do god ‘s work. as we tour is 600 acre property, he at his business would not be thriving without outside help. agriculture as we know it would not be able to survive if the people who are working today as undocumented workers were not in the workforce. during peak season, more than 200 people work for him. 50 are here on temporary visas like ivan. his wife and daughters are in costa rica. he leaves for six months of the year and he has been doing it for six yea rs. and he has been doing it for six years. the reason is simple. for money. little money. you cannot find sufficient labour and you do not know from year to year if you are going to be able to find workers are legally so you wonder why people turn to doing things under the table and to undocumented workers because we do not have resources in place to hire people properly. this farmer depends on guest workers at applications for temporary visas are expensive and cumbersome. he needs more workers and faster and it would seem so more workers and faster and it would seem so does the us economy. we have close to full economy which is great. we want wages to go up and a tight labour market but we also want the economy to expand beyond the current workforce. immigrants need to be all to that. rhetoric surrounding immigration has become harsher and focused on more and more constraints but the fact is, a huge number of american businesses in different industries are dependent on the labour of overseas workers and what these businesses want is for the president and congress to focus on the reality. in other news: apple has become the first—ever us company with a stock—market value over $800 billion. the milestone was crossed on tuesday when apple stock closed at an all time high of $153.96 cents a share. in fact apple's stock price is up 57,403% since its market listing in 1980. a share price of $191.80 would bring its market value to an even $1 trillion. australia's treasurer scott morrison hopes to raise the equivalent of $4.6 billion from a levy on the balance sheets of the country's five largest banks. it's estimated it will add an extra 10% to their tax liabilities. the australian bankers' assocation has slammed the move saying it's not just a tax on the country's banks but a direct attack on jobs and growth. profits at walt disneyjumped 11% in the first three months of 2017, bolstered by attendance at its theme parks and resorts. profits in the first three months of the year were $2.1; billion. but the media giant's revenue gains were more muted. the firm remains on track for modest growth, in spite of subscriber losses at its sports television network espn. not enough to impress shareholders with disney shares down 3% after the closing bell on wall street. it is a small world after all. if you wish upona small world after all. if you wish upon a star, you could have bought the appleshare in 1980 and be a multi— millionaire but i did not so i hear at five o'clock in the morning. ——i hear. that's all for me for now will be reviewing the news in a moment. sally will be back with me in a moment. let's look at the uk story. an 11—year—old girl has died after falling from a water—ride at the drayton manor theme park in staffordshire. the girl — who has not been named — was on a trip with her school, the jameah girls academy, which is in leicester. in a statement the school said it was providing support to its pupils and staff and requested time to grieve. jane—frances kelly reports. drayton manor theme park is closed today as a mark of respect for the 11th or old girl who died. yesterday afternoon she was on a ride she fell into the water. park staff rescued her and emergency services were called. she was airlifted to hospital but died shortly after arrival. the park describes the ride which has been open since 1993 as wild, predict the ball and feeling. small boats carry up to six passengers who must be at least three feet tall. the theme park is be run by the same family for years. the current boss was visibly upset as the red a short statement following the death. we are ruled truly shocked and devastated and out of sorts... excuse me... with family and friends in this tremendously difficult time. the girl attended jameah girls academy which describes itself as an independent islamic school for girls. in a statement it said... staffordshi re staffordshire police said a specially trained officers are supporting the family. the health and safety executive has launched an investigation. the latest headlines: president trump has fired the fbi director, james comey, the man leading the investigation into possible collusion between his election campaign and russia. the democratic leader in the senate, chuck schumer, has called for a special independent prosecutor to take over the russia inquiry. the new president of south korea, moonjae—in, has been sworn in following his victory in tuesday's election. mr moon is a liberal human rights lawyer who's called for cooperation with north korea. the united states says it will begin supplying weapons to kurdish militants fighting the islamic state group in syria. i told you sally would be joining i told you sally would bejoining me for a review of how the news is being reported around the world. the big shock of the night, you're fired. it is like a scene from the apprentice. —— the apprentice. i wonder how that would have gone if it was face—to—face. he would have pointed his finger at him. that is how it works. shall we do the news review? the washington post explains that the recommendation came from seniorjustice department officials and the rationale behind the sacking was comey‘s poor handling of hillary clinton's email scandal during the us presidential elections. to the korea times now, where the front page of their website is awash with images of the new south korean president. moon jae—in from the democratic party won with [11% of the vote ending nine years of conservative rule under the impeached former president park geun—hye. the financial times features a story about apple's market share value, which broke through the $800 billion mark for the first time. analysts are putting that down to a good earnings season not any optimism over president donald trump's pro—business tax policies. a photo of one of russia's ballistic missiles graces the front page of the uk independent. it says that putin used moscow's annual victory day parade to show off the weapons system for the first time. and finally, uk prime minister theresa may and her husband were early victims of "fa ke news", they told the bbc,

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